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Our view on
Economics & Markets

Macroeconomics and movements in financial markets impact many aspects of our lives. Having a well-informed view of what could transpire can help mitigate the risks we face and uncover profitable opportunities.

Our most recent publications

February 24, 2025

Weekly Macro & Markets View, Week 9

  • Friedrich Merz’s CDU/CSU wins the most seats in the Bundestag, and formal talks with the SPD to form a ‘Grand Coalition’ will likely begin
    The far-right AfD and far-left Die Linke, however, appear to have enough seats to block constitutional debt reforms and are both sceptical of military spending.
  • A softer PMI survey in the US weighs on investor sentiment
    The S&P 500 suffers its worst day this year, though it follows a new record high set only two days before.
  • The Reserve Bank of Australia delivers its first rate cut in five years, lowering the cash rate from 4.35% to 4.1%
    We expect monetary easing to be gradual in this cycle, with the next cut likely to come in May.
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February 04, 2025

Monthly Investment Insights

Key developments

  • Stocks come under pressure following US President Trump's announced tariffs on Mexico, Canada and China; Canada and Mexico have been granted a last-minute reprieve
  • US Treasury yields jump in response to robust labour market data and then fall after lower-than-expected inflation figures, leading to volatility in global bond markets, most notably in the UK
  • Credit supply picks up due to seasonal patterns, with investor demand bolstered by higher bond yields


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January 16, 2025

Topical Thoughts

Robust growth and inflation figures in the US have caused the Fed to take a more hawkish stance and signal a slower pace of monetary easing. This has triggered a substantial rise in global bond yields which weighs on financial markets and the growth outlook. Inflation normalisation remains on track in most regions while it will take longer in the US, particularly if the incoming administration implements the inflationary policies announced during the campaign. Given elevated inflation rates and an uncertain policy outlook in the US we expect bond markets to remain volatile in the coming quarters. Nevertheless, global government bond yields are likely to fall back from current levels.

 

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Weekly Macro & Markets View

Designed to give clear interpretation of the previous week’s macroeconomic and financial market developments. This publication represents how Zurich sees the financial landscape evolving on a week-by-week basis.

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Monthly Investment Insights

Structured to give a succinct view of the investment outlook and economic prospects for the coming months. Focus is on key developments from an investment perspective, with a tactical view presented on the major asset classes of equities, credit and government bonds.

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Inflation Focus

A quarterly publication, conveying the most likely outlook for inflation over the subsequent 12-24 months. Global and regional views are provided, detailing the driving forces behind the outlook. Point forecasts are offered for the major coverage areas, with short-term moves and pressures also identified.

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Topical Thoughts

Investigative research on specific issues that affect the business environment, with expert thoughts and opinions provided on an ad hoc basis.

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Economic and Market Outlook

With a 12 months focus, this publication is designed as a reference document for multiple user groups. It is segmented by region and provides in-depth coverage of both economic and financial market fundamentals, as well as the underlying trends that are observed.

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Mid-Year Outlook

An update on the Economic & Market Outlook is provided, gauging developments and projecting how the months ahead are likely to unfold.

Videos and Podcasts

To compliment some publications, a series of short videos and, in the case of Topical Thoughts and the Economic and Market Outlook, more detailed podcasts are available.

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